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Business Assistance

Financing Incentives and Programs

More information about these programs can be found on the Alabama Department of Commerce website.

Alabama Department of Economic & Community Affairs (ADECA)

ADECA supports programs to create or retain jobs in Alabama. The Community Development Programs section at ADECA administers a number of programs and grants that help enhance Alabama communities. Community Development Block Grants may be the most well-known of these grants and programs. These grants help communities make needed improvements that they may not otherwise be able to afford.

A portion of Lawrence County is located in an Opportunity Zone. This is a new alternative economic development program to foster private-sector investments in low-income rural and urban areas. The program provides federal tax incentive for investors to re-invest their unrealized capital gains into Opportunity Funds dedicated for investing in the designated Opportunity Zones.

Other programs include Economic Development Incubators-$250,000; Float Loans-$10 million; Economic Development Grants-$200,000 (subject to waiver). Visit ADECA’s website at http://

Industrial Development Grant Program (Site Prep)

Grants awarded to counties, municipalities, development boards or authorities, port authorities, or public corporations for site preparation or rehabilitation of an existing building or structure that is necessary to attract a qualifying project. The size of the grant is dependent on amount of capital investment.

Industrial Revenue Bonds (IRBs)

Tax-exempt bonds up to $10 million can be issued covering all or part of the cost of land and building acquisition, construction, furnishings and some soft costs.

Alabama Infrastructure Grant Program

Helps finance water, sewer and road facilities.

Industrial Access Road and Bridge Program

Covers cost of construction, construction engineering, and inspection costs when providing public access through roads and bridges to new or expanding manufacturing, distribution or industrial firms.

Certified Capital Company Program (CAPCO)

Provides an alternative to conventional bank financing to accommodate a slightly higher risk profile and provide a more flexible structure for growing businesses.

CDBG Economic Development Grant

Grants are available to new or existing businesses that provide land, facilities and infrastructure such as water lines, sewer lines, rail spurs, docks, cranes, access roads, etc. to facilitate the creation and/or retention of jobs. The grant ranges from $200,000 to $350,000. A local match will be included of at least 20%. To qualify, the grant must be associated with the location of a new business or expansion of an existing business that creates 15 or more jobs. At least 51% of the project beneficiaries must be persons of low and moderate income.

USDA Rural Development Programs

Add USDA Rural Development Programs-Loans, grants, loan guarantee programs and technical assistance for industries. Includes small business grants, business opportunity grants, direct loans, loan guarantees, and intermediary re-lending programs.

Visit USDA Rural Development’s website at

Other Programs and Incentives

AlabamaSAVES (Sustainable and Verifiable Energy Savings) Loan Program

Low interest financing to commercial and industrial firms for including energy-saving improvements in facilities. Learn more at

North Alabama Regional Council of Governments (NARCOG)

NARCOG is comprised of representatives from Cullman, Lawrence and Morgan counties, and Cullman, Decatur, Hartselle and Moulton cities. The organization provides financial assistance to local communities to promote economic development and operates a Revolving Loan Fund for small local businesses and industries. Contact us at 256-974-2899 for more information or visit the NARCOG web site.

One-Stop Environmental Permitting

Environmental Permitting available for businesses and required by all major federal environmental laws. Learn more.

TVA Incentives

The Tennessee Valley Authority has a range of financial assistance programs available to companies locating to Lawrence County and for existing industries looking to expand their facilities. For more information about the programs available, contact us at 256-974-2899 or visit the TVA economic development web site.

TVA Programs Include:

  • Economic Development Loan Fund (EDLF)
  • Valley Advantage
  • Small Manufacturing Credit
  • Technical Services